Payments & Money Transfer | Ottawa, ON | Founded: 2011 | Employees: 11-50 | www.fusebill.com
Last updated December 20, 2018 | To download a PDF version, click here.
Fusebill Inc. (“Fusebill”) is a company headquartered in Kanata, Ottawa that serves B2B and B2C businesses by automating invoicing, collections, outstanding bills and customer lifecycle management solutions. The services are sold on a subscription basis to companies operating in the SaaS, digital media, and communications space. To date, they have raise $10.6 million in funding from venture capitalists, angel investors, and friends. Fusebill employs roughly 25 employees, all working in the Ottawa office.
Tyler Eyamie: Co-Founder and CEO (2011-Present). Previously: Manager, Bell Canada (2000-2000); Corporate Account Executive (2001-2004), Corporate Sales Manager (2004-2007), Director (2007-2011), Protus IP Solutions (2001-2011). Education: B.B.A., St. Francis Xavier University (2000).
Greg Burwell: Co-Founder and CTO (2011-Present). Previously: Systems Administrator, Cisco Systems (2000-2001); Director, Protus IP Solutions (2001-2011). Education: Algonquin College of Applied Arts and Technology (Year Unspecified).
Peter MacKie: VP Sales (2018-Present). Previously: Vice President and General Manager, Time Group of Companies (1989-1999); COO & Co-Founder, Mitercom Inc. (1999-2002); Management Consultant, In-Touch Survey Systems (2003-2003); VP Program Development (2004-2005), COO (2006-2009), OnPath Business Solutions (2004-2009); Director of Web Sales, Protus IP Solutions (2009-2011); Director of Sales and Student Recruitment, Algonquin College (2012-2015); VP Sales, TUC Managed IT Solutions (2015-2016); Enterprise Account Executive, Thinkwrap Commerce (2016-2018); VP Sales, Fusebill (2018-2018). Education: Civil Technology, Algonquin College of Applied Arts and Technology (1980).
Jacob Varghese: VP Marketing (2018-Present). Previously: Graphic Designer, Encore Sales (1997-1998); Support Specialist, Softimage (1998-2005); Senior 3D Animator, Big Bang Digital Studios (2005-2006); Online Marketing Specialist, BrandByte Media (2007-2013); VP Marketing, FITT (2013-2015); Director of Marketing, SOLUFY Information Technologies (2016-2018). Education: Bachelor of Arts, University of Mumbai (1993).
Fusebill was founded in 2011 by Tyler Eyamie and Greg Burwell who worked at Protus IP Solutions formerly, which is a SaaS business providing communication services to businesses. They realized that the company lacked proper systems to manage billing and payments for its employees and left in February 2018 to start their own company in Kanata, Ottawa that is now branded as Fusebill.
Fusebill has raised a total of $10.3 million in funding over 4 rounds and is currently backed by private investors and institutional investors. In March 2012, a seed round of $1.4 million was raised internally followed by a $2 million venture round contributed by OMERS Ventures and Covington Funds in April 2013. Then, in April 2015, a private debt financing of $1.2 million was raised. Most recently, Fusebill raised a $6 million investment round led by ScaleUp Ventures and Langdell Investments in its Series A round. The company has announced it plans use the money to strengthen product development and expand globally via sales.
Key Corporate Developments
Press releases: https://www.fusebill.com/news
Oct 26, 2016: Fusebill Names Saas Industry Veteran Rob Sutherland as CRO
Sept 15, 2016: Fusebill Ranks NO. 39 on the Startup 50
Sept 12, 2016: Ottawa-based Fusebill Raises $6 million Series A
April 16, 2013: Fusebill Raises $2 Million From OMERS Ventures
Fusebill markets its service by role and by industry:
- Management – View real time customer metrics, repackage/reprice offerings, and sync data in real time.
- Finance – Easily track and control revenue recognition without keeping manual spreadsheets.
- Marketing – Create and implement new marketing campaigns and track the results of each campaign.
- Technology – Integrate Fusebill seamlessly into its API and deploy the system in just weeks.
- SaaS/Cloud Applications – Fusebill helps cloud based companies by managing their end customers with ease so they can buy from anywhere at any time.
- Internet of Things – Fusebill handles billing models such as usage, storage, user licenses, and recurring fees, allowing more complex business offerings to attain a competitive advantage.
- Media – Fusebill allows its clients to understand how and where their customers are buying and minimize their likelihood of churn by adjusting pricing models in real time.
- Cloud Infrastructure/PaaS – Fusebill has a variety of billing options to let its clients bill end customers by transfer rate, number of hours, or even by transaction.
- Subscription Management: Control the type of billing, frequency, add-ons, upgrades, discounts, and usage.
- Recurring Billing: A recurring billing engine can handle the simplest of billing models to the most complex.
- Payment Gateway: Integrates the payment processing directly into the client’s subscription billing and lifecycle management platform.
- Recurring Revenue: Streamlines the client’s revenue recognition needs by using recurring revenue automation.
- Payment Management: Multiple payment options with the ability to accept payments in any currency around the world.
- Analytics & Insights: Fusebill provides dashboards with analytics on customer turnover, subscriber life cycle, and other metrics.
Fusebill charges $99 per month and a 1.5% fee on revenue for clients making $1 million or less annually, a flat $995 per month rate for clients generating between $1-$10 million annually, and custom pricing plans for enterprises making beyond that range.
Fusebill integrates with the client’s systems seamlessly, claiming that security is at the forefront of their practice. Their infrastructure is secured with firewalls, network intrusion, and content delivery technology. They are also audited annually by third parties to maintain certifications and compliance.
Fusebill offers its billing SaaS to hundreds of internet, media, and telecommunications companies operating in Canada. Most clients happen to be based in Toronto and Ottawa because Fusebill is headquartered in Kanata, Ottawa. Such companies include Uberflip, NonProfit Technologies, and ClearPathGPS. There is no app for Fusebill to distribute over the Apple App Store or Google Play Store because it is a solution that has to be implemented into billing systems.
Fusebill does not appear to implement a referral system for its clients. However, it has appeared in the media being featured as a young, exciting, high-growth company on websites like Ottawa Business Journal and BetaKit.
Many billing software startups compete for the same clients, which makes this space a very competitive environment. In addition, several major CRM companies (i.e. Zoho Office Suite) are beginning to introduce their billing arm of the company to offer clients an easier way to manage their invoices. Here are two companies that compete closely with Fusebill by attracting Canadian clients:
- Recurly – (San Francisco, CA) Recurly delivers subscription based services to enterprise-class businesses across North America and helps clients lessen the complexity of invoicing.
- ChargeBee – (Walnut, CA) ChargeBee is based in California and has a very similar business model to Fusebill. Like Fusebill, they also serve Saas and eCommerce businesses on a subscription basis.
Corporate Profile Created By: Steven Lou, Ivey HBA2